Saudia Dairy and Foodstuff Co. announces signing a Memorandum of Understanding with Tabuk Agriculture Development Company, Horizon Food Factory Co Ltd.
|Introduction||Saudia Dairy and Foodstuff Co. Announces the Execution of a Non Binding Memorandum of Understanding Term Sheet for purchase and expansion of controlling stake in Horizon Food Company Ltd, Al Khobar, from Tabuk Agriculture Development Company, subject to satisfactory completion of financial, technical, business, commercial and legal due diligence.|
|Memorandum Signing Date||2020-07-26 Corresponding to 1441-12-05|
|Counterparty||Tabuk Agriculture Development Company, Horizon Food |
Factory Co Ltd.
|Memorandum Subject||Non binding memorandum of understanding|
|Memorandum Duration||Three months|
|Financial Impact||Full financial value of the transaction will be determined and announced after the completion of the due diligence process.|
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